APCO Holdings, LLC, Acquires National Auto Care, Creating Nationwide F&I Force

APCO Holdings, LLC, Acquires National Auto Care, Creating Nationwide F&I Force

Business-primary F&I vendors merge

NORCROSS, Ga. — APCO Holdings (“APCO”), a primary provider and administrator of automotive Finance & Insurance plan (“F&I”) products and household to the EasyCare and GWC Warranty models, has acquired Countrywide Car Care (“NAC”).

NAC is a hugely respected provider of F&I goods, administration, consulting companies, instruction, and advertising and marketing support. With much more than 35 many years of demonstrated success, NAC provides goods and services to 1000’s of auto, RV, and powersports sellers, credit rating unions and monetary institutions.

“We are psyched by all the gains that this acquisition delivers to APCO. It completes our nationwide footprint, expands our array of solutions for automobile and RV sellers, adds new segments like Powersports, and strengthens our education and business growth abilities to keep us at the forefront of aiding dealers, agents and associates sustain F&I profitability as the market place returns to a much more common, aggressive point out,” reported Finbarr O’Neill, Govt Chairman of APCO.

Pursuing the shut of the transaction, Tony Wanderon, who was CEO of NAC, has grow to be CEO of APCO successful instantly. Scot Eisenfelder who was CEO of APCO earlier has stepped down in conjunction with this transaction.

“We thank Scot for his devoted leadership and the development produced in this extremely demanding sector. Scot additional huge benefit to this firm all through his tenure.”, mentioned Mr. O’Neill. “We glance forward to Tony’s management, leveraging his deep encounter in the F&I arena, his shown background of making potent firms to properly assist automobile retail F&I functions, even though producing a robust purchaser-oriented lifestyle.”

“Our groups share quite a few equivalent philosophies in how our companies operate,” stated Tony Wanderon, CEO of APCO. “We are all committed to good quality and excellence in all the things we do, most importantly using treatment of prospects, assisting them optimize their dealer F&I operations though generating a office wherever our staff members truly feel valued. I am assured that our foreseeable future is brilliant.”

The transaction was financed substantially by an fairness injection by bulk shareholder Ontario Teachers’ Pension Strategy Board (“Ontario Teachers’”) and third-celebration personal debt funding. Phrases of the transaction are not becoming disclosed.

“We have been APCO’s greater part shareholder because 2016 and are thrilled to continue supporting the corporation in its up coming phase of growth”, says Jeff Markusson, Senior Managing Director, Fiscal Expert services at Ontario Teachers’. “We consider the mixture of the two complementary companies results in a legitimate chief in the F&I room with increased and diversified distribution channels, outstanding brand name and a broad products portfolio with various natural and M&A expansion levers backed by a prime leadership staff.”

APCO’s and NAC’s shared skills and complementary offerings will be leveraged to assist sellers fulfill altering industry desires, these types of as the continued emergence of digital retailing and EV product sales. The expansive, merged F&I merchandise suite will allow for sellers to seize much more revenue through greater product sales chances, like extra EV choices, significant-mileage goods, access to the MotorTrend Accredited application and skills in the two RV and powersports industries.

RBC Cash Marketplaces acted as lead fiscal advisor to APCO, with TD Securities, Scotiabank, BMO Money Markets, and CIBC Planet Marketplaces serving as co-advisors. Personal debt funding for the transaction was led by Royal Bank of Canada, who acted as lead left arranger & bookrunner, with TD, Scotiabank, Lender of Montreal, and Canadian Imperial Financial institution of Commerce serving as joint lead arrangers & bookrunners. Weil, Gotshal & Manges acted as authorized adviser to APCO.

About APCO Holdings, LLC

Because 1984, APCO has developed to turn into a main service provider and administrator of F&I goods for the vehicle field. Constructed on a foundation of money protection and a commitment to knowing our customers’ demands, APCO is a dependable partner to some of the most well-respected insurers, extremely successful dealerships, and major vehicle field gamers in the country. The organization markets its solutions making use of the EasyCare, GWC Warranty, and MemberCare makes, as perfectly as other personal label solutions, as a result of a network of impartial agents and an interior salesforce that specialize in consulting with and servicing the automotive dealership marketplaces. EasyCare, GWC Guarantee, and MemberCare F&I products are the only “MotorTrend® Encouraged Ideal Invest in” in the business. They also have top scores from the Greater Organization Bureau, have secured above 11 million consumers, and have paid out about $3.5 billion in statements.

About Countrywide Auto Care

NAC is 1 of the longest functioning companies of items such as car or truck provider contracts, assured asset safety, minimal warranty, tire and wheel and a full suite of ancillary defense merchandise nationwide. NAC gives F&I products, administration, consulting services, training and marketing and advertising guidance to impartial brokers, insurance plan companies, car dealers, RV dealers, powersports dealers, monetary institutions, third-celebration directors, and credit rating unions.

About Ontario Teachers’ Pension System

Ontario Teachers’ is a international trader with web belongings of $242.5 billion as at June 30, 2022. We spend in additional than 50 nations in a wide array of assets such as public and non-public equities, fastened profits, credit rating, commodities, normal means, infrastructure, true estate and undertaking development to supply retirement cash flow for 333,000 doing work members and pensioners.

With workplaces in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our far more than 400 investment decision pros deliver deep skills in industries ranging from agriculture to synthetic intelligence. We are a completely funded defined reward pension system and have attained an yearly complete-fund web return of 9.6{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} due to the fact the plan’s founding in 1990. At Ontario Teachers’, we do not just spend to make a return, we commit to form a superior long term for the academics we serve, the corporations we back again, and the globe we dwell in. For much more data, visit otpp.com and stick to us on Twitter @OtppInfo.